Dam unlucky bet on SIRF

Based on my observasion on 2007 Christmas hot buy, I found SIRF which is GPS chip provider for main street GPS PND vendors like Garmin, TOMTOM, Megilean, Mio etc. I also have been a hot GPS fan, I bought a Megillian hiker version GPS in 2003 before my famouse US4States trip.

In Dec 2007, I bought Omintech GPS PND for $99 with 4.3'' wide screen, text to speeach, SD slot which are main features for expensive brand name GPS PND.

At first, my bet on SIRF before Feb 4(ER) was buying 12 far OTM calls and LEAP calls + 500 shares and sold 2 PUT.

After closing of Feb 4 when SIRF missed the earning target, share price dropped to $14, I then bought dip at $13.00, So I added 2400 shares of SIRF AH with cost of average $13.5. SIRF AH ends up with $10.

SIRF opened at $8.3 on Feb 5 WED, it slipped to $7.3.....

I lost $20000 from SIRF just from buying dip AH on Feb 4, 2008

Big big lesson!!!!!